Prime Minister Shehbaz Sharif increases the youth business and agriculture loan limit to Rs25 million, lowers the minimum eligibility age to 18 and directs that 30% of loans be reserved for women.
ISLAMABAD: Prime Minister Shehbaz Sharif has increased the individual loan limit under the Prime Minister’s Youth Business and Agriculture Loan Schemes from Rs7.5 million to Rs25 million, while directing authorities to reduce the minimum eligibility age from 21 to 18 years to expand financial opportunities for young people.
The decisions were taken during a meeting chaired by the prime minister in Islamabad on Sunday to review the provision of loans to young people and implementation of the Prime Minister’s Youth Business Loan Scheme and Youth Agriculture Loan Scheme.
Shehbaz also directed that 30% of loans under the programmes be reserved for women to promote their economic independence and encourage their participation in business activities.
According to the briefing, the government has disbursed loans to 581,341 young people since January 2023. This figure is 10 times higher than the number of young beneficiaries recorded during the preceding 10 years.
The briefing further revealed that loans amounting to Rs313.9 billion have been disbursed under the schemes so far.
For the 2026-27 fiscal year, the government estimates that 266,700 young people will receive loans worth a total of Rs292 billion under the programmes.
The prime minister said the loans would be provided through easy installment plans and stressed the importance of ensuring effective financial support for young entrepreneurs and individuals seeking opportunities in agriculture.
He appreciated the efforts of Finance Minister Senator Muhammad Aurangzeb and his team in establishing effective arrangements for financial assistance to young people pursuing business and agricultural activities.
The prime minister also directed the Small and Medium Enterprises Development Authority (SMEDA) to provide comprehensive assistance to young applicants, including business startup guidance, advisory services, consultancy and technical support.
He instructed the relevant authorities to launch a nationwide awareness campaign to inform young people about the schemes, available opportunities and government initiatives so that more applicants could benefit from the programmes.
The meeting also discussed measures to empower young people, expand business opportunities and increase their participation in the agricultural sector.
Shehbaz said young people were a valuable national asset and reaffirmed the government’s commitment to empowering them, utilizing their potential and providing opportunities for decent and productive employment.
Federal Minister for Finance Senator Muhammad Aurangzeb, Special Assistant to the Prime Minister on Youth Affairs Rana Mashhood Ahmed Khan and Special Assistant to the Prime Minister on Political Affairs Talha Burki attended the meeting.
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